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When drawing channel lines, how do you treat the before and after market hours for the emini? Do you start and end at the normal trading bell or do you include off our sessions?
Hi Kelly,
Just view the market yourself and you will see that trend channel lines often work fine from late in the overnight (Globex) session - say from London open at about 04:00 ET. Sometimes it will work further back as shown in sample image from this week where the trend continued with consecutive wedges.
I use tick charts so experience with 5-minute and other charts may vary, but for the ES I will be looking for trend lines from about 04:00 ET, or certainly from about 07:00 ET most days for sure. Again, just look and you will find your own evidence of their use.
Thanks!
I generally have both charts side by side. The 24 hour Globex chart and the regular trading hour chart of ES (also called gap chart, because it has big day to day gaps). Both give valid trendlines reaching across days. The market often reacts to both sets of those lines and parallel channel lines.
Tick charts are tricky. On one hand channels tend to look straighter across sessions, but i am not sure if the lines will actually be more or less precise, especially parallel lines.
